Siemens, MIT initiative examines the industrial metaverse

Siemens and MIT Technology Review announced a collaboration examining the emergence of the industrial metaverse, that includes an independent research report from MIT Technology Review Insights, The Emergent Industrial Metaverse.

Generally speaking, industrial metaverse refers to a form of digital twin technology – a digital environment where engineers and designers can access virtual representations of products, machinery or entire manufacturing facilities to simulate various scenarios, optimize designs and identify potential issues.

Targeted at technology decision makers, the MIT’s metaverse report explores the building blocks, use cases, challenges and opportunities of the industrial metaverse. The report incorporates interviews conducted with technologists, industry analysts and academics to compile strategies and best practices .

“Collaboration and openness need to inform every digitalization strategy going forward,” said Annika Hauptvogel, Head of Strategy for Technology and Innovation Management at Siemens. Additionally, organizations must determine a value proposition for their industrial metaverse initiatives before diving into this emerging technology.

Michael Grieves, Executive Director of the Digital Twin Institute, suggests that by working with a clear objective—such as minimizing waste or accelerating product development cycles—organizations can build “an understanding of what’s real, what’s not real, and what’s hype.”

Available online, the report will be followed by an in-person event on the MIT campus on June 12, 2023 to deepen the conversation around the industrial metaverse and its impact.
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